Introduction

Near is a layer 1 blockchain which is trying to solve the scalability problem with a similar approach to ethereum. However in some ways its ahead with sharding already implemented , and its rainbow bridge fully functional (similar to IBC). In this dashboard we will be comparing nears performance to other Layer one blockchains.

Methodology

We will be looking at data from the beginning of 2022

1. First we will look at the transactions per minute on each blockchain, more specifically we will collect data for the average transactions per minute and the max transactions per minute. The max tpm (transactions per minute) is much more indicative of the capabilities of the blockchain that is why we will be including this in our data collection.
2. Then we will look at all the transactions sent, and see how many of these were successful.
3. We will repeat this for all the Layer 1 blockchains.

Near -

When its current roadmap is fully implemented, theoretically it should be able to handle up to 100,000 tps (6 million tpm).

Note - I will include a theoretical max tps for each blockchain, however the reliability of these values is not great and should not hold much weight in this analysis.

Avax-

Theoretical tps 4500 (270000 tpm), however avax is taking a horizontal scaling approach with subnets so theoretically is infinitely scalable.

Polygon-

Theoretical tps 7200 (432000 tpm). Polygon is working on a whole suite of scaling solutions including their recently announced zk-evm layer 2. More information on this can be found here .

Solana-

Theoretical tps is 65000 (3900000 tpm).

Ethereum

The current theoretical max tps is around 25 (1500 tpm ) however once ethereum 2.0 is fully launched it is expected to be able to handle around 100,000 tps (6 million tpm).

Note the max tps is showing a peak of around 6000 tpm, I believe this is because the times we are taking are when the transaction is submitted and not when finalized, so even if 6000 transactions are submitted in a minute, they will distributed over the next few minutes of blocks. The maximum sustainable tps is 25 due to gas limits of blocks.

Highest max tpm reached

1. Solana

2. Polygon

3. Near

4. Ethereum

5. Avax

   
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Highest success rate

1. Ethereum
2. Polygon
3. Avax
4. Near
5. Solana

Conclusion -

• Solana clearly has the highest tpm peaking at around 67k, however it also suffers from stability issues sometimes having 50 % of transactions fail
• Ethereum has one of lowest max tpms however is the most stable , emphasising the trade offs of scalability and stability
• Not full data for Avax, I believe Avax has reached higher max tpm then ethereum in the past, however recently lots of the biggest applications have moved to subchains (such as crabada) reducing activity on the c-chain
• Near is mid of the pack for both metrics, Near can theoretically achieve a higher tps, however activity on Near has been lacking, however I believe this will change in the future.
• Polygon , based on these two metrics seems to have optimised for both, with the second highest tpm, and second highest transaction rate ( allowing for a seamless user experience).